A merchandise budget is a plan of:
a. projected sales for an upcoming season, when and how much merchandise is to be purchased, and what segments of the market to target.
b. projected sales for an upcoming season when and how much merchandise is to be purchased, and what markups and reductions will likely occur.
c. projected sales for an upcoming season, when and how much merchandise is to be purchased (excluding potential markups and reductions).
d. projected sales for an upcoming year, when and how much merchandise is to be purchased, and what reductions will likely occur.
e. projected reductions for the upcoming season.
Answer: B